Leadership Next

To those who love online trading or flock to the latest cryptocurrency, Edward Jones may appear old-fashioned. The company has been offering clients financial advice for 100 years and it remains focused on face-to-face interactions. And, CEO Penny Pennington says while cryptocurrency may be a fit for some portfolios, "we do not believe that speculation is a part of serious long-term financial planning. And there is part of the crypto market right now that is pure speculation." This approach is clearly working out well for Edward Jones, a Fortune 500 company that's spent the pandemic growing its customer base. In today's Leadership Next, Pennington tells Alan Murray and Ellen McGirt how she's working to diversify the company's pool of financial advisors, why she strives to infuse empathy into all aspects of the company, and what she sees as the key tenets of good leadership. Also in today's conversation: Pennington's approach to investing in crypto and her take on the threat of an impending recession.

When Dr. Marlow Hernandez was a child in Cuba, he promised his grandmother he would become a doctor. He did so, and is now the CEO of Cano Health, a primary care provider specializing in senior care. Cano has 137 medical centers across the country. The majority of its patients are located in low-income areas of South Florida. Companies the size of Cano Health don't typically appear on Leadership Next. But Cano's results are anything but typical. COVID-19 mortality rates among its patient population are 60 percent lower than the comparable senior population. How did Cano pull this off, and what can the rest of the health industry learn from its business model?

As the war in Ukraine continues, it's brewing one crisis - threatening the global food supply - and deepening another - pushing millions of Ukrainians from their homes. Today on Leadership Next, Alan Murray and Ellen McGirt speak with two leaders who are working hard to mitigate these problems. Svein Tore Holsether is the CEO of global fertilizer company Yara. He explains why the war is hurting agricultural production and driving up prices. He also points out that while the larger businesses community has widely paused operations in Russia, Yara doing so has ripple effects across the world's food supply. Holsether shares how he's navigating this humanitarian dilemma. Also in the conversation: why Holsether is pushing his company to produce green fertilizer, the challenges this presents and how it's changing the way he spends his time. David Miliband is CEO of the International Rescue Committee, an NGO that assists refugees in over 40 countries. He lays out the scope of the refugee problem created by the war in Ukraine. He then details the role business can play in improving the lives of refugees.

Fred Smith envisioned FedEx during his time as an undergrad at Yale. By 1973 his school project had become a functioning business. He's been a part of the organization ever since. But on June 1st he'll step down from the role of CEO and transition to FedEx Executive Chairman. Taking the reins at the Fortune 500 giant is current President and COO, Raj Subramaniam. In his first interview with a major media outlet, Raj tells Leadership Next how he came to FedEx, and how he's thinking about filling the shoes of a legendary CEO. Also in today's conversation: why the company stopped delivering packages for Amazon, the role FedEx played in delivering crucial COVID-19 supplies, and how technology will impact FedEx operations in the future.

As Leadership Next listeners know, the role of business in society is changing. Companies are being held responsible for their environmental footprint, CEOs are asked to weigh in on social issues. Employees and customers both have new expectations of the corporations in their lives. And as companies respond to these changes they need corporate boards that understand these new expectations and pressures. Today, boards best equipped to do this are composed of diverse members with a wide variety of expertise. Nobody knows this better than Brian Stafford, the CEO of Diligent. Diligent designs software and educational tools for use by corporate boards and leaders. The company has also partnered with Fortune to build a list of companies with the most innovative boards. In this episode, Stafford explains the changing demands on board members and the skills these leaders need to succeed.

When the COVID pandemic struck, Pfizer was ready to tackle the challenge of developing a vaccine. That's due in large part to some key decisions CEO Albert Bourla made after becoming CEO in 2019. In this episode of Leadership Next he was also quick to acknowledge the role purpose played in making this feat possible. "I think it was the most important factor," Bourla said. "It was not the singular focus on sciences, it was not the infrastructure were able to develop. It was the culture and the mindset ... breakthroughs that change patients' lives. That's the reason of our existence. This is why we have formed this corporation. Without that there's no reason for us to be part of corporate America ... Companies that are staying true to their purpose always perform better than companies that don't. And I think this is because when you are having a strong focus on your purpose, you coordinate all the resources of the company towards one common goal." Also in the episode: the complicated debate over drug pricing, big lessons learned from the COVID pandemic, and Bourla's top leadership goal.

On February 24, Russia fired missiles into Ukraine, launching a war that has displaced millions and likely killed thousands. One week later, mega retailer IKEA announced it would pause all production in both Russia and Belarus and shutter its namesake stores. This decision was anything but simple. Showing support for Ukraine ultimately meant impacting over 12,000 IKEA employees in Russia, not to mention Russian consumers who turn to IKEA for reasonably-priced home goods. On today's Leadership Next, the CEO of IKEA's Ingka Group Jesper Brodin explains how the company thought through this complicated decision. "A bit like the pandemic, there is no manual or guidebook for us here," Brodin says. Also in today's conversation: why IKEA now sells renewable energy, the mattress-recycling economy in Sweden, and how Brodin nurtures his mental health.

Linda Rendle is one of just a few women to be running a Fortune 500 company. She took over the top job at Clorox early in the pandemic when the company was scrambling to meet unprecedented demand for its cleaning products. That demand has subsided but inflation has skyrocketed, handing Rendle yet another challenge. On today's Leadership Next, she tells Alan Murray and Ellen McGirt how she's approached these hurdles and why she strives to take care of her employees and the planet. "(It) has nothing to do with the idea of being woke. it has to do with this is the way that we actually create value," Rendle explains. "And we've been under leveraging it as a society for many years. And now I think it is the way and the path forward to continuing to create good growth, and really a more comprehensive view of capitalism."

Global Payments provides the technology plumbing for a lot of digital commerce. That means when life moved largely online for many in 2020, the company's bottom line benefited. And while pandemic restrictions have eased, CEO Jeff Sloan says consumers will likely continue to order dinner, buy shoes and visit the doctor online. "Cash and check is the enemy. And the pandemic has accelerated the decline of cash and check," Sloan tells Leadership Next. "As long as you as a consumer are paying for something other than in cash and check, we ultimately are going to get paid." That extends to cryptocurrency as well. But Sloan feels strongly nobody is going to be buying groceries with crypto any time soon. Instead, he expects to see the introduction of a U.S. stable coin in the near future. Also in the conversation: how Sloan see corporations benefiting from cryptocurrency today, the importance of empathy in leadership, and why Sloan aims to surround himself with people who disagree with him.

Ahead of Russia launching attacks on Ukraine, businesses and governments were warned to brace for cyber warfare. That hasn't transpired yet, but it doesn't mean it won't warns the co-founder and CEO of security company CyberArk. "Perhaps they're saving it for a later time," Udi Mokady tells Leadership Next. "(Y)ou don't certainly pull out all of your arsenal at once. And of course, my concern is that some of it will be taken against countries that are participating in the sanctions." Cyber threats - and the actors behind them - have changed dramatically since Mokady helped found CyberArk in 1999. Of course, he points out, investment in cyber defenses have changed over time too. Also in today's conversation: why companies are more vulnerable than ever to cyber attacks and how to improve the cybersecurity talent pipeline.

What is design thinking, and why should you care about it? " You know, so many leaders today are asking the question, what comes next? How do we prepare ourselves for what we can't even see? ... Well, that's where design thinking comes in," Sandy Speicher, CEO of IDEO, tells Leadership Next. Design thinking is a different way of seeing the world, a different approach to problem solving and leading. It's also a bit of a buzz word that many people still don't fully understand. But with so many changes happening in business right now - the technology revolution, the rethinking of how companies function in a hybrid world, the search for greater corporate purpose - now's the time to figure it what it is and how to implement it, according to Alan Murray and Ellen McGirt.

Bigger is no longer better for General Electric, according to CEO Larry Culp. When he took charge of the iconic company in 2018 it was clear change was needed - GE was in the midst of a years-long slump where much of its market value disappeared. His solution: break the corporate giant into three smaller, focused companies. How did he come to this conclusion? Why is it the right move? And what leadership lessons can others gain from Larry's story? Alan Murray and Ellen McGirt answer those questions and more in this episode of Leadership Next.

Signet Jewelers - parent company to Zales, Kay and several other brands - has seen its digital sales quadruple since the start of the COVID pandemic. And an estimated 85 percent of customers interact with the company digitally at some point during their shopping process, according to company CEO Gina Drosos. But pushing the company towards a digital future is just part of the transformation plan Drosos put in place after becoming CEO in 2017. "Our transformation has been both strategic and cultural, with cultural being probably even the more important of the two," Drosos tells Leadership Next. Also in today's conversation: tracing the diamond supply chain, the importance of having a diverse leadership team, and inflation's impact on the jewelry industry.

Chobani CEO Hamdi Ulukaya immigrated to the U.S. from Turkey, He purchased an old yogurt factory in upstate New York in 2005. Two years later, the company sold its first Greek yogurt. Today, the brand is reportedly worth billions and is preparing for an IPO. But perhaps the most remarkable part of this story is HOW Ulukaya met his goal of making quality yogurt available to the mass market. As he tells Alan Murray and Ellen McGirt, it all came down to trusting his employees and treating them well. Chobani makes a practice of hiring refugees, and has enlisted other companies in these efforts. Ulukaya is dedicated to the idea that CEOs have the power to change lives, and the responsibility to do so. Hear more in this episode of Leadership Next.

As recently as 1993, 80 percent of Africans had never heard a phone ring according to Cassava Technologies CEO Hardy Pemhiwa. Today, the vast majority of people on the continent own mobile phones. But connecting those phones to the internet remains pricey. This is where Cassava Technologies enters the picture. The company aims to become the first tech company to connect all of Africa. This massive ambition springs from the belief that everyone deserves the opportunity to afford online access, and that providing this access opens the door to job growth and - ultimately - to a better economy. Pemhiwa tells Leadership Next how he's approaching the challenge, the role of regulators in Africa's growing tech industry, the opportunity for investing in African entrepreneurs, and more.

In this episode of Leadership Next, Alan Murray and Ellen McGrit take listeners inside the annual CEO meeting that Fortune typically hosts at Davos. Davos itself was postponed due to Omicron, so Fortune moved its meeting online - and attendance was impressive. Leaders who joined oversee an estimated $2.6 trillion in annual revenues and directly employ just under seven million people. On the agenda: looking ahead to the biggest challenges and opportunities of 2022. Today you'll hear from Andy Jassy of Amazon, Brian Moynihan of Bank of America, Carol Tomé of UPS, Nicolas Hieronimus of L'Oréal, Vicki Hollub of Occidental Petroleum, and Dan Schulman of PayPay. Also on the show, Joe Ucuzoglu of Deloitte US shares results from the Fortune-Deloitte CEO survey conducted in January.

For years Steve Case has been pushing venture capital investors to look beyond California, New York and Boston for startups to support. This has been the driving mission of his investment firm, Revolution, and his seed fund has backed nearly 180 companies in 80 cities. But now - finally - a growing number of investors are joining him. "I do believe one of the silver linings of a terrible tragic pandemic may be this accelerant in terms of what's happening with these rising cities and more companies starting and scaling in cities," he tells Leadership Next's Alan Murray and Ellen McGirt. Case says this is of course good news for company founders, but it's also good for workers and local economies. And, hopefully, it translates into more diverse entrepreneurs attracting funding. Also in the conversation: the types of companies Case has his eye on now, his time as the founder of AOL, and why you may want to consider a trip to Chattanooga. The transcript of this episode will be available on Fortune.com.

In this final Leadership Next of 2021, Alan Murray and Ellen McGirt are joined by Joe Ucuzoglu, CEO of Deloitte US and long-time sponsor of the podcast. The team reviews highlights from the season, identifying themes that emerged from the 40 episodes, and discusses what's ahead for business in 2022. Voices from the season appear throughout the episode. Hear from the CEOs of UPS, Chipotle, Intel, S&P, United, Best Buy, Albertsons and many more. Leadership Next will return with more interviews in January of 2022. Subscribe to the podcast so you don't miss a thing!

After 24 years at Home Depot, Carol Tomé was ready to retire. But United Parcel Service - where she had served as a board member since 2003, had other plans. Why did she decide to accept the CEO job at UPS? That's just the first thing Alan Murray and Ellen McGirt want to know in this episode of Leadership Next. UPS is the leading delivery business in the U.S. Tomé says the company delivers six percent of the country's GDP each day. That requires a lot of employees! Tomé sees making these workers happy and developing them into leaders as one of her top priorities. She explains the various ways she's tackling that part of the job. Also in the conversation: growing the business, navigating COVID, smoothing supply chain snarls and innovating for the years ahead.

Before the COVID pandemic, roughly 10 to 15 percent of Chipotle's business came in through digital channels. Today, that number is closer to 40 percent. "Sometimes, you know, your strategies end up finding an unknown accelerator. And the pandemic proved to be an accelerator on the strategy," CEO Brian Niccol explains. The company was well positioned to excel during the pandemic in other ways too. Thanks to its previous food safety scares, Chipotle had stringent health and safety protocols in place. Raising wages and outlining opportunities for career growth have helped the company weather the current labor shortage. And now, Niccol is looking ahead to another big challenge: climate change. Alan Murray and Ellen McGirt dig into all of the above, and more in this episode of Leadership Next.

United Airlines CEO Scott Kirby was one of the first leaders of a major American company to insist all employees be vaccinated against COVID-19. The move was controversial. But in the end, over 99% of workers complied. Kirby tells Alan Murray and Ellen McGirt that while he was confident the mandate was the right choice, he's glad the process is now in his rearview mirror. In this episode of Leadership Next Kirby shares how he makes hard decisions. He talks about United's commitment to be "100% green" by 2050. (He's quick to point out that carbon offsets do NOT figure into the company's plan.) And, he explains how his military training and love of reading have set him up for success.

When Adrian Gore decided to build an insurance company in South Africa in the early 1990s, he took a novel approach: the company should aim to make people healthier. This was not - and is not - a common tactic in the insurance business. But in a country with lots of sick people and not enough doctors, it seemed like the only sustainable choice Gore told Leadership Next. His gamble paid off - Discovery is now a very successful global business that has expanded beyond health insurance. In this conversation with Alan Murray and Ellen McGirt, Gore explains how he founded Discovery, the power of incentives to drive healthy behavior and where the company is headed next.

Cruise, backed by General Motors, plans to have one million of its self-driving cars on the road by 2030, according to CEO Dan Ammann. But the cars won't be sold to individuals. Instead, Cruise plans to introduce the public to its autonomous vehicles via ride sharing. The idea is that instead of calling an Uber or a Lyft, passengers will call a Cruise AV. On this episode of Leadership Next, Ammann tells Alan Murray and Ellen McGirt how the company plans to pull this off. He also explains why he's so eager to get more self-driving cars on the road. For him, it's about safer roads and saving lives.

In the past, offering executives leadership training was an expensive proposition. This meant only a handful of employees were able to participate. But what if you blew that model up? If you could lower the. cost, you could increase the number of employees being trained to excel. The result: a broader and more diverse group of up-and-coming corporate leaders. This is exactly what ExecOnline's CEO and co-founder, Stephen Bailey, has done. His company partners with top business schools and offers their material online to nearly half of all Fortune 500 companies. In this episode of Leadership Next he tells Alan Murray and Ellen McGirt why he started ExecOnline. The three discuss how the responsibilities of corporate leaders have changed, and what it takes to be a successful leader today.

Jack Dangermond founded Esri over 50 years ago and has grown it into a giant private company that provides software to global corporations, governments and NGOs. At its heart, it's a map-making company. Customers pull data into Esri software to create maps that help inform all sorts of decisions. As Jack tells Alan Murray and Ellen McGirt, "Our customers run the world ... and they do it through maps." But Esri's mission runs deeper than this. "We look at issues of a social nature or an environmental nature, and try to build some of the parameters of that kind of thinking into the basic tools. So when our users buy those tools, they wind up doing usually a lot more than their basic mission. ... They do things more efficiently. They do things more sustainably, ... So we can't actually control them or tell them what to do. But we can introduce to them this geographic way of thinking and acting that ultimately drives better action and behavior on their part."

Michael Dell had a reputation for not paying attention in school. But apparently, reading computer magazines in the back of his high school classrooms paid off - he went on to found Dell Technologies. This story, and many others, appear in Dell's new book, 'Play Nice But Win.' And today he's sharing several of them on Leadership Next. Alan Murray and Ellen McGirt spend some time digging into Dell's decision to take his company private in 2013 and then return to the public markets in 2018. You may not be surprised to hear that the CEO of Dell Technologies also has a lot to say about tech itself. He believes "nobody is going to be spared" from transformation, that the experience will be "wicked and brutal" but also "wonderful and amazing."

Thanks to COVID-19, corporate America has been forced to reimagine how, where and when works gets done. And the former CEO of PepsiCo, Indra Nooyi, is pushing companies to inject "more humanity" into these future of work conversations. For her that means including discussions on how to support families, enabling everyone to fully participate in the workforce. As she tells Alan Murray and Ellen McGirt, this is not a "feminist issue," it's an economic one. Drawing on her new book, "My Life In Full," Nooyi lays out some specific steps she believes companies should take to better support working women. The Leadership Next conversation also touches on Nooyi's moves as PepsiCo CEO to make healthier products and boost sustainability efforts.

In today's race to attract and retain the best employees, creating an inclusive environment where people actually want to work is key to success. And this is something today's Leadership Next guests have been focused on for years. Michael Bush is CEO of Great Place to Work (GPTW), and Aron Ain is CEO of UKG, the company that recently acquired GPTW. The two tell Alan Murray and Ellen McGirt why their companies recently joined forces, and share advice on navigating the rapidly-changing world of work.

Robots have been moving into factories and other manufacturing facilities for some time. But Daniel Dines is out to automate tasks traditionally done by knowledge workers. Dines's company, UiPath, is working hard to bring robotic process automation, or RPA, into offices across the world. He argues that automating routine tasks ultimately enhances jobs - and investors seem to agree. The company went public earlier this year in one of the largest U.S. software IPOs in history, and continues to grow. On this episode of Leadership Next, Alan Murray and Ellen McGirt dig into Dines's argument that this automation is a positive development for all concerned.

It's been almost exactly two years since the Business Roundtable - a DC-based advocacy group comprised of the country's biggest companies - updated its mission statement to include stakeholders like employees and communities alongside shareholders. The move signaled a change in approach that Leadership Next's Alan Murray calls "transformational." As co-host Ellen McGirt points out however, skeptics continue to say this is all just talk, not substantive change. So today, Alan and Ellen check in with the head of the Business Roundtable - Josh Bolten - to hear the arguments he offers critics. They also discuss implementing standards to better measure the impact of the stakeholder approach, how the pandemic has impacted adherence to the stakeholder model, and Bono (yes, that Bono).

Why should business care if the government agrees to repair roads and bridges? The answer to that question is more complex than you may think. But this week's Leadership Next guest lays it out beautifully. Andrew Liveris, former CEO of Dow, is co-chair of a boldface group of CEOs called Build Together. Their goal: to encourage bipartisan support of the $1T infrastructure bill. That bill passed the Senate - garnering support of all Democratic Senators and 19 Republicans - last week. Now, it's heading for the House. Liveris explains why Build Together was formed and how it functioned. Alan Murray and Ellen McGirt also ask about what's next for the group and how the CEOs feel about the $3.5T soft infrastructure budget blueprint.

Flex is "one of the biggest companies you may have never heard of," Alan Murray says on this week's Leadership Next. The third-largest manufacturer in the world, Flex makes products and components for other companies you DO know - like Cisco, Dyson and Bose. Revathi Advaithi became Flex CEO in February of 2019 - just in time to negotiate sensitive trade issues with China, quickly followed by the COVID-19 pandemic. In this episode of Leadership Next, Advaithi talks about running factories and managing customers during the pandemic's early days, what the pandemic revealed about supply chains, and how she expects manufacturing to change over ensuing years. She also shares her career journey, and her thoughts on how more women can reach leadership positions within Global 500 companies.

When the COVID pandemic hit, Best Buy turned all of its stores into curbside service only - in the span of just 48 hours. And while stores have since reopened, many changes made as a result of the global crisis are here to stay. CEO Corie Barry tells Leadership Next how Best Buy has rethought using its stores, connecting with customers and best utilizing employee skills. And what about business itself? Will the outsize demand we saw for tech products eventually wane? Barry's answer may surprise you. Also in this episode: Best Buy's efforts to retain women employees, its focus on cybersecurity, and why being CEO "is not a job you do by yourself."

Leadership Next's Alan Murray calls the board shakeup at Exxon one of the biggest business stories of the year. And today the man behind that shakeup - Chris James of Engine No. 1 - joins Alan and Ellen McGirt to explain what inspired his activist campaign, and why he believes it succeeded. Fortune's Katherine Dunn - who has been reporting on the story - has valuable insight to offer too, laying out how the proxy fight unfolded and why the moment was ripe for disruption. Also key of course is what happens next. Will the three new board members be able to drive change at Exxon, pushing it to invest in the technology needed to transition away from a carbon-centered energy future? And does Engine No. 1 have its sights set on another company?

Grab is widely considered Southeast Asia's most valuable startup. Founded in 2012, the company started as a riding hailing service and has grown to include food delivery, financial services and more. From the beginning, co-founders Anthony Tan and Hooi Ling Tan have focused on building a successful business that also creates a lasting social impact. On this episode of Leadership Next, CEO Anthony Tan tells Alan Murray and Ellen McGirt how the company came to be, how it has grown, and how competition has made Grab better. Throughout it all, he illustrates how an unwavering attention to stakeholders has benefited millions across Southeast Asia, and strengthened Grab's bottom line.

While Leadership Next enjoys an extended Fourth of July holiday, check out this episode of Fortune's Brainstorm podcast - a weekly podcast which examines how tech is reshaping our world. Like what you hear? Subscribe here! In this episode, which originally aired in May, hosts Michal Lev-Ram and Brian O'Keefe look at Silicon Valley's efforts to perfect a delicious meat alternative. There are more plant-based meats on the market than ever before. But startups are increasingly using other methods to develop alternative proteins too - and investors are flocking to support their efforts. Today's Brainstorm podcast is all about these alternative meats: the case for developing them, how Silicon Valley is embracing the challenge, who is most interested in backing these companies and - perhaps most importantly - how do they taste? Fortune senior writer Beth Kowitt wrote her first big feature on the industry in 2017 and has been following it closely ever since. She gives Brian O'Keefe and Michal Lev-Ram an industry overview. Kowitt also interviews Lisa Dyson, the founder and CEO of Air Protein. A young company that - yes - aims to make alternative protein from the elements found in air. Finally, hear from Sharyn Murray of The Good Food Institute. She has a slew of data about who is investing in this industry and where the money's going - plus an interesting argument that the government should be playing a larger role in encouraging the adoption of meatless meat.

Duke Energy, number 126 on the Fortune 500, delivers electricity to nearly 8 million customers in the Southeast and Midwest. A fair amount of that electricity remains generated by coal-fired plants. Since Lynn Good became CEO in 2013 she's retired 52 of these plants, but there's still work to be done. And with an increased focus on climate change coming from government, investors, employees and customers - the push to reach net zero is stronger than ever. Good tells Leadership Next's Alan Murray how the company is approaching this challenge. They also discuss cybersecurity threats, activist investors, and how the job of CEO has changed over time.

Vivek Sankaran was ten months into his tenure as CEO of Albertsons Companies when the COVID-19 pandemic struck. His roughly 300,000 employees immediately became front-line workers, and the company had to scramble to figure out how to keep everyone safe. But ultimately, Sankaran said, the pandemic made Albertsons a better company by accelerating innovation around digital orders and much more. Another big change for Sankaran over the past year is how he thinks about social issues and community impact. "I shouldn't be episodic about this," he explained. "I need to make this commitment, I need to problem solve it like I'm problem-solving other aspects of the business."

Dow is one of the world's largest producers of plastics, yet company leader Jim Fitterling is committed to ending reliance on single-use plastic products. It's a tension that's difficult to balance, and it makes for an interesting discussion on this week's Leadership Next. As Dow moves towards a more sustainable business, Fitterling points out that products are just part of the equation. The processes used to make the products have an even bigger carbon footprint. So how specifically do you approach this challenge AND still run a profitable business? Alan Murray and Ellen McGirt dig into the details.

Pat Gelsinger has been CEO of Intel for about four months now. But he's not new to the company - he spent the first 30 years of his career at Intel. The story of how a young man from a Pennsylvania farming community landed at Intel is a good one - and it's something Pat shares with Alan Murray and Ellen McGirt in this episode of Leadership Next. But first, semiconductors. They're embedded in all the tech we touch, and most of them are manufactured in Asia. Supply chain problems have led to shortages recently, which has put the issue on many American's radars. But the push to increase manufacturing capacity in the U.S. has been building for some time. Gelsinger admits Intel ceding manufacturing to Asia was a strategic mistake and, as he explains, he has a strategy for improving the situation. Fortune's Eamon Barrett also joins this episode to shed further light on the global chip shortage, the challenges of increasing manufacturing in the U.S., and the political forces behind initiatives to do so.

Chris Nassetta has been CEO of Hilton since 2007. He tells Alan Murray that when arrived on the job "the business just wasn't functioning in the ways that it needed to function." And while some of that related to strategy, he pinpointed the real problem as tied to culture. "It (had) really sort of lost its way from a cultural point of view." While the problem may have been easy to diagnose, it was anything but easy to solve. He succeeded however, as evidenced by the company's high ranking on Fortune's 'Best Companies to Work For' list. In this episode of Leadership Next he explains how he tackled the problem. Also in this episode, the return of business travel and a peek at what Nassetta calls the "phygital" future (yep, it's a combo of physical and digital.)

Any time you propose a change that impacts thousands of companies, you're likely to hear complaints. That's what happened when the Nasdaq stock exchange said it wants its listed companies to disclose their board diversity stats. What's more, it wants companies to have at least one woman and at least one individual who identifies as an underrepresented minority or LGBTQ+ on their boards. The proposal is still making its way through the SEC approval process, but Nasdaq's CEO says she's not concerned by the debate surrounding the plan. "This is a significant change to the governance of public companies. And so we like the rigor," Adena Friedman tells Alan Murray and Ellen McGirt in this episode of Leadership Next. This diversity rule would be a first for a major American stock exchange. Pushing for the change placed Friedman - the first woman to lead a major American stock exchange - on Fortune's latest list of the World's Greatest Leaders. Friedman originally joined Nasdaq as an intern in 1993, and was named CEO in 2017. Tune in for more on the board proposal, her take on the current stock market, and how leadership has changed as a result of the pandemic.

Even before the pandemic, a large number of PagerDuty employees were working in a hybrid fashion. "I think maybe even some organizations are underestimating the complexity that comes as a result of giving your employees the flexibility they want," CEO Jennifer Tejada says on this week's Leadership Next. She shares tricks and tips for successfully leading a hybrid workforce. She also talks about the impact the pandemic has had on working women, why PagerDuty opened an office in Atlanta, and the importance of networking. Also in today's episode, the CEO of Puppet, Yvonne Wassenaar.

Katrina Lake is the founder and CEO of Stitch Fix, a personalized styling service founded ten years ago. When Lake took her company public in 2017, she was the youngest female founder to ever do so. And, she's one of the few women founders to IPO a tech company. The IPO itself was notable for another reason too: many pictures from the event show Lake holding her young son. "It was a really meaningful moment that I didn't anticipate," she tells Alan Murray and Ellen McGirt. Lake reports that she's moved from "bristling" at regularly being called a female founder (instead of simply "founder") to embracing her position as a role model for other women in business. In this episode of Leadership Next, Lake describes the moment she knew she wanted to be in business, the dangerous lack of diversity amongst investors, leading through the pandemic, her plans to transition to executive chairperson, and more.

As we begin to emerge from the pandemic, it's a question that seems to be plaguing most CEOs: How do you hold on to the benefits of remote work while encouraging more in-person collaboration? This is just one topic that Alan Murray and Ellen McGirt broach with Adobe CEO Shantanu Narayen. Listening and responding to employees is clearly something Adobe does well - the company has landed on Fortune's list of 'Best Companies to Work For' several years in a row. It's far from the only thing the company does well however. Adobe's financial results continue to impress year after year. How does he do it, and how is Narayen positioning his company - home to products like Photoshop, Adobe Sign and many more - for the future? That's all on this episode of Leadership Next. Also featured in this week episode, Catalyst's Senior Director of Women and the Future of Work, Lauren Pasquarella Daley.

Patagonia - the 48 year-old outdoor equipment and apparel company - has long been passionate about protecting the environment. But when Georgia passed new voting access laws in March, Patagonia was one of first to speak out and push back against the changes. Why did the retailer choose to be a part of this political fight? That's what Alan Murray asks Patagonia CEO Ryan Gellert in this episode of Leadership Next. Gellert details how the company's activism has evolved over time, and how Patagonia decides which issues to support. Gellert also shares the challenges of becoming carbon neutral, how being a certified B Corp has made Patagonia a better company, and why a failure to fight for stakeholders is a "real risk to businesses."

Etsy - the e-commerce site focused on handcrafted goods - saw its revenue more than double in 2020. CEO Josh Silverman describes the COVID-19 pandemic as the company's "Dunkirk moment." At a time where traditional suppliers couldn't even come close to meeting the demand for face masks, Etsy makers stepped up. The company wound up selling about $740 million worth of masks in 2020, according to Silverman. However those sales were dwarfed by the clamor for home goods - everything from custom-made desks to throw pillows. In this episode of Leadership Next, Silverman tells Alan Murray and Ellen McGirt why he believes so many people turned to Etsy during the pandemic. And he explains the company's commitment to three big issues: economic empowerment, diversity and sustainability, saying "being a good citizen makes us an even better business."

Ryan Williams is the CEO of Cadre, a company that's out to "democratize" commercial real estate. In other words, he's making it easier for the average investor to buy a piece of the pie. And, he's utilizing technology in a way the staid industry hasn't seen before. His success landed him on our 40 Under 40 list in 2019, and the COVID-19 pandemic hasn't slowed him down. In this episode of Leadership Next, Williams tells us about his early business ventures and how he came up with the idea for his company. He talks about why he thinks everyone should be able to include real estate in their portfolios, and about the company's commitment to invest in minority operators who are often building properties in underrepresented communities. He goes on to explain why this investment will not hurt the company's bottom line saying in part, "unconventional approaches can lead to unconventional returns and outcomes." Also joining Alan Murray and Ellen McGirt, Fortune's Shawn Tully who has his own take on Cadre's approach to business.

Biotech company Genentech has eight drugs in various stages of development as therapeutics for COVID-19. But early in the pandemic, the company decided to turn over a large chunk of its manufacturing capacity to a competitor. Time was of the essence, and this company had a promising monoclonal antibody cocktail in the wings. Will this spirit of collaboration survive post-pandemic? That's just one topic Leadership Next explores with Genentech CEO Alexander Hardy. Another big topic of conversation: health equity and the diversity of drug trials. Health disparities between races is nothing new, but the pandemic put a bright spotlight on the issue. It quickly became clear that COVID-19 was hitting communities of color hard. This did not go unnoticed by Hardy who told Alan Murray and Ellen McGirt "we have a really significant responsibility as an industry to society to never let these sorts of issues impact these populations as they've done now." One part of solving this problem is ensuring that drugs in development are effective for all people, and that requires including more people of color in clinical trials. Diana Zuckerman, President of the National Center for Health Research, joins Leadership Next to more fully explore why today's clinical trials lack diversity, and what needs to happen to change that.

Kara Goldin never planned to create a company that competes with giants like Pepsi or Coca-Cola. She just wanted to drink water that didn't taste boring. But now Hint is the country's fastest-growing independent beverage company. Since its founding in 2005, Hint has grown to include products like sunscreen and hand sanitizer. But its mission remains the same according to Kara: to help people lead healthy lives. That purpose has also led her to push for a closer examination of the country's drinking water. She says despite EPA oversight, many dangerous impurities remain in tap water, and she's fighting to draw more attention to the problem. Also today on Leadership Next, she tells Alan Murray and Ellen McGirt about her early dreams of working for Fortune, how she landed her first job out of college, and she offers advice to women who suspect NOW may be the time to change careers.